Common use of Replacement of Note Clause in Contracts

Replacement of Note. 2.1 In case this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this Note, or if no interest shall have yet been paid, dated the date of this Note.

Appears in 11 contracts

Sources: Promissory Note (Laser Energetics Inc), Promissory Note (Laser Energetics Inc), Promissory Note (Laser Energetics Inc)

Replacement of Note. 2.1 In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 2.2 Every Note issued pursuant to the provisions of Section 2.1 above in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time or be enforceable by anyone.

Appears in 11 contracts

Sources: Promissory Note (Arcadia Resources, Inc), 12% Subordinated Convertible Promissory Note (Critical Home Care Inc), Convertible Promissory Note (Winsonic Digital Media Group LTD)

Replacement of Note. 2.1 2.1. In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 2.2. Every Note issued pursuant to the provisions of Section 2.1 above in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time or be enforceable by anyone.

Appears in 10 contracts

Sources: Secured Promissory Note (Acquired Sales Corp), Convertible Note (Winsonic Digital Media Group LTD), Senior Promissory Note (AskMeNow,Inc.)

Replacement of Note. 2.1 In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, deliver a new Notenote, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 2.2 Every note issued pursuant to the provisions of Section 2.1 above in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time or be enforceable by anyone.

Appears in 3 contracts

Sources: Promissory Note (Arcadia Resources, Inc), Promissory Note (Arcadia Resources, Inc), Promissory Note (Arcadia Resources, Inc)

Replacement of Note. 2.1 7.1. In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 7.2. Every Note issued pursuant to the provisions of Section 7.1 above in substitution for this Note shall constitute an additional contractual obligation of the Payor.

Appears in 2 contracts

Sources: Senior Promissory Note (Global Realty Development Corp), Senior Promissory Note (Global Realty Development Corp)

Replacement of Note. 2.1 2.1. In case this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this Note, or if no interest shall have yet been paid, dated the date of this Note. 2.2. Every Note issued pursuant to the provisions of Section 2.1 hereof in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time, or be enforceable by anyone.

Appears in 2 contracts

Sources: Non Negotiable Promissory Note (Laser Energetics Inc), Non Negotiable Promissory Note (Laser Energetics Inc)

Replacement of Note. 2.1 In case this Note is mutilated, destroyed, lost or Or stolen, the Payor shall, at its sole expense, execute, register and deliver, a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this Note, or if no interest shall have yet been paid, dated the date of this Note.

Appears in 1 contract

Sources: Promissory Note (Laser Energetics Inc)

Replacement of Note. 2.1 In case this Note is mutilated, destroyed, lost ------------------- or stolen, the Payor shall, at its sole expense, execute, register and deliver, a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this Note, or if no interest shall have yet been paid, dated the date of this Note.

Appears in 1 contract

Sources: Promissory Note (Bioshield Technologies Inc)

Replacement of Note. 2.1 In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor Company shall, at its sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee Holder shall furnish to the Payor Company indemnity reasonably satisfactory to the PayorCompany, and in any such case, and in the case of mutilation, the Payee Holder shall also furnish to the Payor Company evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. Every Note issued pursuant to the provisions of this Section 9(i), in substitution for this Note, shall constitute an additional contractual obligation of the Company.

Appears in 1 contract

Sources: Merger Agreement (Blink Couture Inc.)

Replacement of Note. 2.1 In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and in substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor. In any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 2.2 Every Note issued pursuant to the provisions of Section 2.1 hereof in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time or be enforceable by anyone.

Appears in 1 contract

Sources: Promissory Note (Galacticomm Technologies Inc)

Replacement of Note. 2.1 2.1. In case this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this Note, or if no interest shall have yet been paid, dated the date of this Note. 2.2. Every Note issued pursuant to the provisions of Section 2.1 hereof in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time, or be enforceable by anyone.

Appears in 1 contract

Sources: Subscription Agreement (Cti Industries Corp)

Replacement of Note. 2.1 7.1. In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its his sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in any such case, and in the case of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount Principal Amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 7.2. Every Note issued pursuant to the provisions of Section 7.1 above in substitution for this Note shall constitute an additional contractual obligation of the Payor.

Appears in 1 contract

Sources: Promissory Note (Global Realty Development Corp)

Replacement of Note. 2.1 In case the event that this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, deliver a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and in substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee Holder shall furnish to the Payor indemnity reasonably satisfactory to the Payor. In any such case, and in the case of mutilation, the Payee Holder shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this NoteNote or, or if no interest shall have yet been paid, dated the date of this Note. 2.2 Every Note issued pursuant to the provisions of Section 2.1 hereof in substitution for this Note shall constitute an additional contractual obligation of the Payor, whether or not this Note shall be found at any time or be enforceable by anyone.

Appears in 1 contract

Sources: Promissory Note (Galacticomm Technologies Inc)

Replacement of Note. 2.1 In case this Note is mutilated, destroyed, lost or stolen, the Payor shall, at its sole expense, execute, register and deliver, a new Note, in exchange and substitution for this Note, if mutilated, or in lieu of and substitution for this Note, if destroyed, lost or stolen. In the case of destruction, loss or theft, the Payee shall furnish to the Payor indemnity reasonably satisfactory to the Payor, and in the case ease of mutilation, the Payee shall also furnish to the Payor evidence to its reasonable satisfaction of the mutilation, destruction, loss or theft of this Note and of the ownership thereof. thereof Any replacement Note so issued shall be in the same outstanding principal amount as this Note and dated the date to which interest shall have been paid on this Note, or if no interest shall have yet been paid, dated the date of this Note.

Appears in 1 contract

Sources: Promissory Note (Laser Energetics Inc)